£

Value of 1960 British Pounds today

£60 in 1960
£1,431.98 in 2024

The inflation rate in the United Kingdom between 1960 and today has been 2,286.63%, which translates into a total increase of £1,371.98. This means that 60 pounds in 1960 are equivalent to 1,431.98 pounds in 2024. In other words, the purchasing power of £60 in 1960 equals £1,431.98 today. The average annual inflation rate between these periods has been 5.08%.

Inflation timeline in the United Kingdom (1960 - 2024)

The following chart depicts the equivalence of £60 due to compound inflation and CPI changes. All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money.

All calculations are performed in the local currency (GBP) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis. Today's values were extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1960-2023 2,174.79%
Cumulative inflation 1960-today 2,286.63%
Avg. Annual inflation 1960-2023 5.08%
CPI 1960 5.65
CPI 2023 128.6
CPI 2024-11 (latest official data) 134.6
CPI today 134.92

How to calculate today's value of money after inflation?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the Consumer Price Index (CPI) formula or the compound interest formula.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Valuet =Value0 ×
CPIt/CPI0

To obtain the values equivalent in buying power between 1960 and 2023, use the corresponding CPI values:

Value2023
=Value1960 ×
CPI2023/CPI1960
=£ 60 ×
128.6/5.65
£1,364.87

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 134.92:

Valuetoday
=Value1960 ×
CPItoday/CPI1960
=£ 60 ×
134.92/5.65
£1,431.98

Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: FV = PV × (1 + i)n, where:

  • FV: Future Value
  • PV: Present Value
  • i: Interest rate (inflation)
  • n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are £60 worth today. There are 63 years between 1960 and 2023 and the average inflation rate was 5.0845%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=£60 × (1 + 0.050845)63
£1,364.87

UK inflation - Conversion table

Initial Value Equivalent value
£1 pound in 1960 £22.75 pounds in 2023
£5 pounds in 1960 £113.74 pounds in 2023
£10 pounds in 1960 £227.48 pounds in 2023
£50 pounds in 1960 £1,137.39 pounds in 2023
£100 pounds in 1960 £2,274.79 pounds in 2023
£500 pounds in 1960 £11,373.94 pounds in 2023
£1,000 pounds in 1960 £22,747.88 pounds in 2023
£5,000 pounds in 1960 £113,739.4 pounds in 2023
£10,000 pounds in 1960 £227,478.8 pounds in 2023
£50,000 pounds in 1960 £1,137,394.01 pounds in 2023
£100,000 pounds in 1960 £2,274,788.03 pounds in 2023
£500,000 pounds in 1960 £11,373,940.13 pounds in 2023
£1,000,000 pounds in 1960 £22,747,880.25 pounds in 2023
Cumulative inflation From 1960 2,286.63%
Avg. annual inflation From 1960 5.08%
CPI 1960 5.65
CPI today 134.92

Value of Pound over time (by year)

Period Value
1960 60
1961 62.07
1962 64.67
1963 65.98
1964 68.14
1965 71.4
1966 74.19
1967 76.03
1968 79.6
1969 83.94
1970 89.28
1971 97.71
1972 104.62
1973 114.24
1974 132.57
1975 164.66
1976 191.93
1977 222.34
1978 240.71
1979 273.01
1980 322.06
1981 360.31
1982 391.3
1983 409.33
1984 429.64
1985 455.72
1986 471.34
1987 490.9
1988 511.56
1989 541.28
1990 584.79
1991 628.31
1992 656.96
1993 673.95
1994 688.8
1995 706.85
1996 727.01
1997 742.93
1998 756.73
1999 770.53
2000 779.02
2001 791.75
2002 803.43
2003 814.04
2004 825.72
2005 842.7
2006 863.92
2007 884.09
2008 914.87
2009 932.91
2010 956.26
2011 993.41
2012 1,018.88
2013 1,042.23
2014 1,057.09
2015 1,061.33
2016 1,071.95
2017 1,099.54
2018 1,125.01
2019 1,144.12
2020 1,155.79
2021 1,184.45
2022 1,278.9
2023 1,364.87
2024-11 1,428.55
Today 1,431.98

All available years

Today's value of british pounds by year:

1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |

Other currencies: